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Wednesday, 16 September 2015

Polyphenylene Sulfide (PPS) Market Size, And Forecasts To 2020

The global polyphenylene sulfide (PPS) market is expected to reach USD 1.57 billion by 2020, according to a new report by Grand View Research, Inc. Automotive industry growth, particularly in Asia Pacific, is expected to drive demand for PPS over the forecast period. In addition, favorable regulatory scenario in the region with regards to automotive industry is expected to further augment demand. Furthermore, growing use of the chemical in filter bags, which are used in coal boilers and dust chamber filters is expected to support market growth over the next five years.

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PPS coatings accounted for a small percentage of the market share in 2013 owing to thermoplastic limitation. However, its demand is expected to increase due to the development of alternate coating techniques such as powder coatings, flame deposition, fusion deposition and suspension coatings among others which facilitates a wide variety of coating parts. Coatings are likely to grow at a CAGR of over 10% over the forecast period. Automotive and filter bags together dominated the global PPS market accounting for 50% of the volume share in 2013.

China dominated the global PPS market accounting for over 50% of the global consumption in 2013. The region is expected to witness substantial growth owing to robust growth in the automotive, electronics and aerospace industry, which is expected to result in increased demand for PPS.

Europe PPS market demand exceeded 7,500.0 kilo tons in 2013 and is expected to witness a decrease in market share over the forecast period. Slow economic recovery coupled with the bordering threat of the eurozone crisis is expected to result in average growth for the market over the forecast period.

Chevron Philips, DIC, Kureha Corp, Fortron, Toray, Tosoh, Chengdu Letian and Lumen dominated the global PPS market share in 2013. The market is characterized by capacity expansions and construction of new manufacturing facilities by the leading companies owing to growing demand for PPS over the forecast period.

Grand View Research has segmented the global polyphenylene sulfide market on the basis of end user and region: